Governors Ask FG To Review Revenue Sharing Formula

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The Nigeria Governors Forum on Thursday asked the Federal Government to review the revenue sharing formula.

The governors insisted that what comes to them should be increased, stressing that states were the custodians of the natural resources in Nigeria.

The Chairman of the governors’ forum, Mr Abdullaziz Yari, disclosed this to State House correspondents after their meeting with President Muhammadu Buhari on the way out of the economic crunch the states were facing.

Other demands include 18 months moratorium from the Federal Government on the bail out loans and the remitting of what they called ‘hanging funds’ owed them by the Federal Government after Nigeria’s exit from the Paris Club in 2005.

They lamented that a situation where some of them could not pay salaries of workers in their states was so embarrassing.

Beyond the bailout fund, the governors have listed a programme for the Federal Government to restructure the states’ economy in the short, medium and long terms.

According to Governor Yari of Zamfara State, President Buhari was said to have graciously accepted their demands.

He added that the President asked that a committee comprising the Vice President of Nigeria, Professor Yemi Osinbajo, and the Minister of Power, Works and Housing, Mr Babatunde Fashola, be set up to look into all the matters.